21st December 2011
In early trading this morning (December 21st), gold has risen to a one-week high following positive data coming out of both the US and Germany.
Reuters reports spot gold prices are up by 0.9 per cent to $1,628.30 per troy ounce, breaking the 200-day movement average for the commodity.
It follows a sharp rise in German business sentiment, as well as a rally in US gold markets helping to push up the price for the commodity across the globe.
"The rebound in gold today is related to the currency market," Dick Poon, manager of precious metals at Heraeus in Hong Kong, told the news provider. "But we don't see much fresh buying from investors as the year end nears."
Earlier this month, the precious metal fell to a three-week low of $1,680.29 per troy ounce on December 12th, as the lack of real progress at the recent EU summit impacted on investor confidence in commodity trading.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.